Societe Generale and 7 Billion Dollar Fraud

 

Video: 

News release stating that Societe General's shares were halted due to a 7.5 billion dollar loss from a fraudulent trade put on by one of the banks traders.  The rogue trader had circumvented trading security procedures and kept the trade hidden for months before it was found.  The fraud was carried out by a scheme of elaborate and fictitious transactions and was the largest fraud in history up until the Madoff scheme was uncovered.